Stock Traders Purchase Large Volume of Cameco Put Options (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading activity on Thursday. Traders purchased 28,210 put options on the stock. This represents an increase of approximately 942% compared to the average volume of 2,706 put options.

Cameco Trading Down 0.6%

CCJ stock opened at $121.65 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. Cameco has a 1-year low of $35.00 and a 1-year high of $126.47. The business has a 50 day simple moving average of $95.51 and a two-hundred day simple moving average of $86.90. The company has a market capitalization of $52.97 billion, a price-to-earnings ratio of 141.45 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. Research analysts anticipate that Cameco will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were given a dividend of $0.24 per share. This represents a yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. Cameco’s dividend payout ratio (DPR) is 19.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCJ. Bison Wealth LLC raised its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC grew its position in Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cameco by 74.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,310 shares of the basic materials company’s stock valued at $1,051,000 after purchasing an additional 6,127 shares during the period. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CCJ shares. Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Sanford C. Bernstein increased their target price on shares of Cameco from $100.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Royal Bank Of Canada decreased their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. National Bankshares reiterated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $121.68.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.